Tag Archives: Q1 2011 finanicals

Apple reports first quarter 2011 earnings

Apple Inc. Logo

Apple Inc. Logo

Like clockwork, Apple announced yet another record quarter, with $26.74 billion in revenue, and a net profit of $6 billion, a 70.5% and 77% increase compared to the same quarter last year, respectively. Apple now has $59.7 billion in cash on hand.

The company sold 4.13 million Macs, 16.24 million iPhones, 19.45 million iPods and 7.33 million iPads during the quarter, and revealed during the conference call that over 160 million iOS devices are now in customers hands. Growth in Mac sales has been faster than the overall PC market for 19 straight quarters.

Tim Cook was asked about how well the Mac App Store was doing, given that most of the top Apps tend to be written by Apple. Cook noted that there have been over 1 million downloads on the Mac App Store so far, and it’s just getting started. Read more

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